Answer:
12.51%
Explanation:
after the first 6 years, you will have:
FV = PV (1 + r)ⁿ
FV = $8,500 (1 + 6%)⁶ = $12,057.41
If you need to have $19,320 in 4 years, then you must determine r:
$19,320 = $12,057.41 (1 + r)⁴
$19,320 / $12,057.41 = (1 + r)⁴
1.6023 = (1 + r)⁴
⁴√1.6023 = 1 + r
1.1251 = 1 + r
1.1251 - 1 = r
0.1251 = r
r = 12.51%
Answer:
The account balance after 4 years will be $2,420.
Explanation:
First we need to add Bob and Judy's amount to find the total amount that will be deposited. (1260+975)=2,235.
Now we will break up the annual interest into monthly interest because it will be compounded monthly. 2/12=0.166.
Then we will break up the 4 years into months also because the interest is compounded monthly. 4*12=48
Now we use the formula for compound interest
Final amount = Principal*(1+R)^N
Principal = 2,235
R= 0.166% or 0.00166
N= 48
We put these values into our formula
2,235*(1+0.00166)^48
=2,420
<span>During the recent financial crisis, many financial managers and corporate officers have been criticized for (c) Large salaries. This criticism is certainly justified given that most executives received exorbitant compensation despite a plunge in the value of their companies. Thus, their salaries are not justifiable as they are not serving the needs of the shareholders whose interest they should serve. </span>
I would say the correct answer is B. t<span>he ability of a company to change prices and output like a monopolist. Market power is basically the power of a particular company to manipulate the price of the product and thus affect all other participants, as well as customers. Monopolists have the greatest market power; conversely, in an ideally balanced economy, nobody would have market power. All participants would have equal chances and nobody would dictate the terms to others.</span>
